Page 20 - TURKRptFeb21
P. 20

     Turkey’s defence and aerospace exports ​declined​ by 14.8% y/y to $2.3bn in 2020​.
In 2020, Turkey’s exports to the US ​increased​ 12.2% to $8.8bn while exports to China rose by 2.8% to $2.6bn​.
   5.1.2 ​Current account dynamics 5.1.3​ Capital flight dynamics
   Turkey’s current account deficit ​jumped​ to $4.06bn in November. The market consensus forecast was for around $3.7bn.
The 12-month running cumulative deficit rose to $38bn.
     Non-residents' holdings of equity and government domestic debt securities ($ mn) (Market Value)
      2017
     2018
     2019
   2020
   Jan-22
 since Nov 6
   STOCK
             Equity
    51,984
    29,350
    32,422
 29,048
      30,745
   30,745
 GDDS
     30,942
      18,325
      15,448
    8,598
    9,159
    9,159
     Repo
 2,403
 314
 513
1,850
 1,817
   1,817
 Private
    959
     612
     406
   225
   222
   222
    NET TRANSACTIONS (Adjusted for Foreign Exchange and Market Price Effects)
     Equity
   3,324
   -1,039
   414
 -4,280
     201
  1,771
     GDDS
    7,383
    -906
    -3,121
 -5,006
      507
   3,117
     Repo
    268
    -1,391
    174
 1,439
      39
   1,690
 Private bond
    40
     -343
     -207
   -181
   24
   37
    source: tcmb
  5.1.4​ Gross intl reserves
        Turkish central bank’s net reserves, excluding swaps, ​stood​ at a deficit of $52bn at the end of October, and at $48bn at end-2020.
  20​ TURKEY Country Report​ February 2021 ​ ​www.intellinews.com
   18   19   20   21   22